What Parts of the Car Are Claimed Under Insurance?

Every motor insurance plan consists of some basic and essential components that provide protection and assistance to the insured. Let us understand these components and their coverage in detail:

-Accident/Collision Coverage

A collision or accident coverage is a part of the vehicle insurance that comes into the picture when the insured vehicle suffers damage as a result of a collision with another vehicle or object.

Under this component, you receive financial assistance for repairing the physical damage to the vehicle as a result of the collision, up to the policy limits. It covers repairs and replacement of doors, hoods, rear bumper, etc., at the time of car insurance claim.

-Liability Coverage Insurance

Liability insurance coverage, also known as third-party insurance, provides coverage to the insured against third-party liabilities arising due to an accident. It is mandatory and has minimum insurance coverage that all vehicle owners must have. It covers the cost of injury to the property, asset or life of the third party.

-Comprehensive Coverage

Comprehensive insurance coverage covers loss or damage caused due to accidents, theft, natural and man-made calamities, vandalism, fire, etc. Moreover, it also protects the insured from third-party liabilities. Thus, it is a wider cover insurance and, hence, highly recommended. Under comprehensive insurance, you can get assistance for damage to the wheels, windshield, etc.

-Personal Injury Coverage

You can get financial assistance if the driver or the passenger in the car suffers bodily injuries in an accident. It takes care of the personal injury of the passengers, irrespective of the fault. Thus, one must include personal injury coverage in the motor insurance for enhanced protection.

-Also Read: A Beginners Guide to Spare Part Coverage

As mentioned earlier, your vehicle insurance does not cover all the car parts and, at times, may only provide partial coverage. Here are some parts that may be covered based on the terms of the policy.

-Engine: A comprehensive insurance plan covers damage to the engine only in case of accidents.

-Electrical Components: Some insurance plans may cover loss or damage to the basic electrical parts. However, the high-end accessories, such as a music system, may not be covered.

-Windshield and Window: In the case of damage due to storms and vandalism, these parts may be covered under specific insurance plans.

As we have seen from the above-mentioned insurance components, not all car parts are covered under the standard policy type, be it comprehensive, third-party or own damage. Thus, add-ons come to the rescue, enhancing the car insurance parts coverage.

Add-ons are an extra or optional feature that one can include in their TATA AIG car insurance policy to include more vehicle parts under the insurance cover and reduce their out-of-pocket expenditure. Let us look at how add-ons play a role in insuring the car parts:**

-Zero Depreciation Add-On: When you opt for a zero depreciation add-on cover, you can get full compensation for your vehicle without the depreciation factor coming into play.

It means that TATA AIG will reimburse you for the full value of the parts that need repair or replacement without depreciating them. In the absence of this add-on cover, you may receive less compensation due to the depreciation of the car parts.

-Engine Secure Add-On: Since an engine is the most expensive and crucial part of a vehicle, its replacement and repair cost is not covered under most of the standard insurance plans. Thus, an engine protection add-on cover proves beneficial in certain cases.

-Tyre-Protection Add-On: Another crucial component of a car is its tyres. However, the damage or loss to tyres is not always covered under the standard insurance plans. Thus, Tyre Protection add-on cover is essential to cover the cost of repair or replacement of the tyres as they are very expensive and involve a huge sum.

-Consumables Add-On: Consumables are small but essential items that may, at times, add up to the cost of repair and replacement significantly. Thus, you can cover car insurance parts coverage by way of consumables add-on.

It includes consumable items, such as engine oil, coolant, nuts, washers, bolts, air filters, oil filters, etc. It is wise to add consumables add-on as these spare parts are irrecoverable after the vehicle is repaired.

The Exclusions and Limitations of Vehicle Insurance

Choosing add-ons such as zero depreciation, engine protection cover, etc., provide extra coverage for the parts that are not covered under the base insurance policies. However, it is crucial to know that even these add-ons come with exclusions that one must be aware of.

-Regular Wear and Tear: Any damage or loss occurring due to regular wear and tear will not be covered.

-Driving Under the Influence of Alcohol: Losses or damages occurring during an accident will not be covered if the driver indulges in drunk driving.

-Mechanical Reasons: When damages occur due to mechanical issues in the vehicle, they will not be covered unless otherwise mentioned in the policy terms.

-Indulging in Illegal Activities: If a driver engages in illegal activities such as racing or rash driving, he will not receive any reimbursement or compensation.

Vehicle parts play an essential role in its overall functioning. However, car parts insurance is not perceived to be as important as it must be. Here are a few pointers that highlight the importance of car parts covered under insurance:

-Reduce the Expenses Significantly: Car parts such as the engine, transmission or other specialised parts are expensive and you will need to shell out a significant amount if they need replacement or repair.

However, if you opt for car insurance parts coverage, you can save a huge out-of-pocket expenditure by investing a nominal amount in the add-on covers.

-Saves Your Expensive Investments: Many vehicle owners love to customise their cars and improve overall functionality. Thus, they may invest in customised parts such as music systems, car seat covers, alloy wheels, body kits, etc.

These customisations may cost more than the regular factory-manufactured parts. Hence, it is crucial to safeguard these investments with the right cover.

-Broader Protection: Opting for additional insurance cover for your car parts is a wise thing to do as it provides broader protection. Your standard car insurance may cover the basics, but an additional cover will protect the parts that are left out by the base policy. Therefore, in the case of any loss or damage, you can get coverage for your basics as well as additional parts.

-Increases the Resale Value: Insuring your car and the parts show that you have made an effort to protect it against potential damages. When your car insurance includes coverage for the parts, it leads to an increase in the resale value of your car as the buyers see value in such cars. Also, the buyer is assured that if any part gets damaged in the future, it will be secured with insurance coverage.

It is crucial for vehicle owners to understand what their insurance for four-wheeler covers in terms of the parts and accessories. Being aware of the coverage allows one to ponder what more coverage is necessary and take the required steps accordingly.

Car owners need to include the expensive components of the car under insurance to avoid spending a hefty sum from their pockets. With TATA AIG comprehensive car insurance, you can get a wider base coverage. You can also include the necessary add-ons to protect the crucial vehicle parts.

You can reap all the benefits of our car insurance starting at ₹2094 only. At this affordable rate, you can get cashless repair facilities in over 10,000 garages, a high claim settlement ratio, discounts, customisation options and much more. Most of all, our insurance plans are meticulously designed to give you broader coverage and peace of mind.